Hi - I have about .9 of a mineral acre in sections 25 and 26 of Block 76. No activity 4 yrs ago when signed mineral lease with Petro Land. Now more activity - getting calls, from various companies offering to buy for $15K to 20K per mineral acre etc. May hold on vs. selling - TBD. Supposedly EOG is drilling there now, but I have received no . Wonder if Petro Land in Tyler TX is a reliable company. I know very little about this business, and even less 4 yrs ago. Wondering about the verbiage in the last agreement. Primary term was for 3 years …unless… if it’s producing… etc etc. I didn’t consult an attorney at the time because I was just getting little $5 and $10 checks here and there. But now they are drilling. I guess I should contact Petro Land, but thought I would see if anyone here has had any prior dealings with them. Thanks Kathy
Do you know if you own into the entire section for Section 25 and 26, or just a portion of each section? ie 160 acres out of the NW4. There are producing wells on both, so you should be receiving royalty checks if you have an undivided interest into both. The 2 producing wells are roughly a year old so you probably would have received a division order around then.
PetroLand looks to be a land service company, so there is a good chance they were contracted on behalf of another company, possibly EOG. Either way, your lease would provide that you receive a royalty.
For some reason I can’t upload a picture of you land, but you can go to http://wwwgisp.rrc.texas.gov/GISViewer2/ and find the wells and permits. From my count there are ~15 permits on or crossing those 2 sections.
No just a very small portion in each totaling just under one net mineral acre
EOG is the operator of your two particular two sections. Section 25,26,35,36 is the four sections together that EOG is developing. There is five wells that are online, two that have been producing a year now and three since February. There has been over 1 million barrel produced. Now I don’t know how your lease has been drawn up. There has been 5 wells spud. Three Rustler D unit wells and two wrangler A unit wells. They should be online in a month or two. If you have any questions about the location and the two sections feel free to message me and we can talk on the phone. I’m just a interest owner in the same location. I inherited my interest from my grandpa. Those offer are actually low from what I’ve been offered. Hope this helps.
By the way I haven’t received my DO yet…and EOG is still dragging their feet. I know other individuals in the same section that just got their DO and some are still waiting. Energen was the previous operator and before that COX oil and gas had it. If you look at the map the small green dot on the left side with AP # 31081 is a Madera 76-26A well that was spud in 1995 and is still holding barrels. I assume they will plug that old vertical well soon. They have recently now updated permits for 1 mile laterals across both half sections( Rustler D unit). In the beginning it was all 2 mile laterals well across all four sections. So the good thing is that you should get 100% of your interest of that section 25 with the mile long laterals. I believe there is 16-17 wells planned. These well have done really well and EOG is a very good company. With it being in the deepest part of the Delaware basin and the possible pay zones they could drill to it could be very good over a long period of time. Hope this helps. Has EOG tried to contact you?
Hi Dan. No, they have not contacted me. But I’m a small interest owner – about .9 mineral acre. My 3 yr lease was thru Petro Land and they haven’t contacted me either. Inherited this through my mother, who inherited it from her aunt (I think she bought it back in the 40s’). I don’t know much about it but have talked with someone down there who has been helpful with the website you pulled those maps from etc.
I’m not quite sure what the process is, but he did say EOG was “big, and slow”.
Kathy
Kathy,
Your royalty is probably being held in Suspense. I suggest you contact EOG.
Finally got the division orders. We shall see.
Hey guys new to this forum, I have land on block 76 section 8 and received an offer of $4k per acre, I have 160 acres. Is there any way to see if there is oil or gas on the property, it seems odd for someone to offer out of nowhere to buy my property. Need advice, please
Gleen, There is production on the Eastern half of this Section 8…Some good oil/gas wells. Anadarko E & P has 3 other permitted locations (301-34008, 34041 & 34045) beginning in Section 17 and going through Section 8. Permits were approved in May and June 2018 but I still don’t see any spud dates(begin drilling).
Production data on well 32907/lease # 48787: Production began on this well in May 2017.
GIS Map of Loving County Section 8/Block 76:
DOUBLE LEFT CLICK ON MAP TO ENLARGE
Clint Liles
Gleen-
Do you own the minerals, or just the surface rights? They are probably wanting to purchase your surface rights for future pipeline plans.
Do you know if $8,000 per NMA as bonus and 25% royalty is a good offer for lease in this area?
That seems a little low for that area, at least on the bonus rate. Make sure it isn’t a Royalty Lease.
That seems like a good offer. I know two people who got that for the bonus and that rate. 7 wells just got completed in section 25,26,35,36. Still 6 more wells permitted and 6 online flowing now. I been tossed some good offers to sell. 450,000k for 5 acres at a 1/8th. Legit offer that we turned away. First offer was 300k as well same company. This block has some good wells and some good players. I wouldn’t sell…and if you do don’t sell for less than the 50-60k per NMA range.